Two Alternative Ways to Store Litecoin

Litecoin has established itself as one of the top cryptocurrencies in the world. If you are interested into getting into Litecoin in Cleveland, and you’re in the Cleveland area, you are going to want to be well aware of your options for making sure your Litecoin are accessible and safe. A Litecoin wallet is going to be what you need.

Typically, many people prefer to use a desktop or mobile device to store their Litecoin. However, with these come a few drawbacks. One of the biggest drawbacks is security. If someone is able to hack into your desktop, your Litecoin could be put at risk. The same goes for your smartphone. While it is not easy to hack a smartphone remotely, it can be done, particularly if an app is installed that secretly helps the process. However, a bigger risk arises in the event your phone gets stolen or lost, particularly if the password is relatively easy to figure out. For these and other reasons, some people are turning to two other ways of managing their Litecoin: hardward and paper wallets.

Hardware Wallets

A hardware wallet uses a USB device that can be plugged into a computer. The wallets house all the information you need to access your Litecoin. They also can store information about your transactions. The primary advantage of a hardware wallet is it can be carried around with you. While in your possession, it is secure. If you were to be burglarized, there’s a chance your Litecoin could be compromised, but you can also take steps to try to prevent both being physically robbed as well as securing the information on the hardware device. Although it may seem “old school,” it’s hard to beat its security.

Paper Wallets

A paper wallet is perhaps the most “old school” of all, and like regular currency, your access to it is very straightforward. With a paper wallet, your access information is printed out, and you keep it with you. You use your paper wallet as a physical representation of your access point. You transfer funds from your software wallet to the address shown on your paper wallet. You then can gain access to it easily.

In the Cleveland area, if you’d like to see more of your cryptocurrency options, you can go to RockItCoin. You can connect with RockItCoin in order to learn about and find new ways to access a variety of cryptocurrencies.

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